Arval Partners with BYD to Expand Electric Vehicle Offerings
Arval, a prominent vehicle leasing company, has partnered with BYD, a global leader in electric vehicle manufacturing. The collaboration aims to expand Arval's electric vehicle offerings and encourage clients to adopt sustainable mobility solutions.
BYD, founded in 1995, has made significant strides in the electric vehicle market. It is the only manufacturer to develop its own powertrain systems, power batteries, automotive semiconductors, motors, and motor controller systems. In 2022, BYD introduced its electric passenger car range to European consumers, launching five models in 19 countries within a year. Last year, the company sold over 3 million new energy vehicles.
The memorandum of understanding was signed by Michael Shu, CEO of BYD Europe, and Alain van Groenendael, Chairman and CEO of Arval. Groenendael emphasised the need for a collaborative ecosystem to facilitate fleets' energy transition. Shu expressed that the partnership with Arval enables competitive solutions for both businesses and private individuals.
Through this agreement, Arval will add BYD vehicles to its leasing portfolio, providing clients with a broader selection of electric cars. BYD's extensive range and proven track record in new energy vehicle sales will support Arval's goal of helping clients transition to electric cars.
